Developers who want to bury a power transmission line under the Hudson River have cleared a major hurdle.

A federal permit has been granted, according to the Hudson Champlain Power Express outfit, which claims its construction would have a positive effect on power prices.

Transmission Developers Inc., or TDI, said that the U.S. Army Corps of Engineers has issued a Department of the Army permit that allows the project to be placed in federal waters along the proposed route.

The idea is to bring less-expensive electricity from Canadian producers, mostly renewables, straight down to New York City, which is the state's major "load pocket" in need of more resources.

The high-voltage direct-current line would run 333 miles from the Canadian border to the Astoria station in New York City, injecting 1,000 megawatts of power into the Con Edison grid. As it passes by Dutchess and Ulster counties, it would be buried under the Hudson River. At some other points, it follows railway or other public rights-of-way.

CEO Donald Jessome told the Poughkeepsie Journal that the permit makes the project, estimated at $2.2 billion from private sources, more fundable. It enables the next step, which is finalizing bids for detailed engineering, material procurement and construction. The goal is to be ready to build by 2016 and transmit power by 2019, he said.

Most of the $650 million yearly estimated savings would be realized by Con Ed customers, Jessome said, but would extend into the mid-Hudson and as far north as the Albany area.

"Once we connect into the Astoria station, it's like a pebble in a pond," Jessome said of the savings.

The project has been controversial, with some residents of Rockland County objecting to its impact in areas where it leaves the river and goes along land routes. The Independent Power Producers of New York has also objected to importing Canadian power instead of upgrading New York-based infrastructure its members provide.

Scenic Hudson and Riverkeeper, two environmental organizations, initially had concerns but worked with the developers and finally endorsed the plan, which they said comes with a $117 million fund fund to aid critical habitat restoration and enhancement projects for the Hudson River, Harlem River, East River and Lake Champlain.

This permit is the last federal or state permission needed, TDI said.

"The terms of the permit reaffirm that our project will take appropriate steps to protect New York's environmental and commercial resources, and we are excited to have moved substantially closer to the moment when we will begin to deliver cleaner, lower-cost power to New York's residents and businesses," said Jessome.